The online vehicle retail platform Motorway has urged drivers who have an unused vehicle on their driveway to sell it, sharing a number of popular models that are increasing in value.
As the typical value of used cars fall, drivers may be tempted to take their old model off the road and keep it parked on the driveway until prices improve.
However, Alex Buttle, Co-Founder of Motorway, noted that not all cars are losing money as they age, meaning drivers could have tens of thousands sitting on their driveway.
He explained: “For many people, their car is one of their most valuable assets. However, our research shows that too many car owners still don’t see their car as an asset and, as such, are unaware of the value of their car or how it depreciates over time.
“We’ve created the Car Value Tracker to help our customers keep track of their car’s value and to empower them with the knowledge they need to sell their car at the right time.”
With Motorway finding that 47 percent of motorists are unaware of the value of their car, they highlighted 10 models that increased in value during 2023.
In particular, the company noted that Dacia cars are currently doing well on the used car market, with both the Sandero hatchback and Duster SUV typically rising in price.
The models known for being cheap to buy new are currently in demand for their low running costs, with the Sandero returning up to 53.3mpg.
City cars and superminis in general are currently strong sellers on the used car market, with motorway highlighting an increase in average prices for a number of popular models.
The Kia Picanto, currently the cheapest new car on the UK market, is particularly popular with used car buyers as many will still be covered by the company’s seven-year warranty.
Similarly, the ever-popular Vauxhall Corsa remains in demand, with the latest version being available as a petrol, hybrid or fully electric.
However, Motorway added that some premium models also increased in value during 2023, such as the BMW i3.
Produced between 2013 and 2022, the all-electric hatchback still has modern styling, often featuring two-tone paintwork, and plenty of features as standard.
Whilst some of the earlier examples can only cover a range of 80 miles, later models with a larger battery can travel 223 miles per charge, making it a good choice for drivers thinking about making the switch to an EV.
